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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
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Sep. 30, 2013
Accounting Policies [Abstract] |
Cash restricted for repaying interest on the term loans | In connection with the 2013 Term Loans issued in February 2013 and the 2013 Prospect Loan Agreement issued in February 2013 (collectively, see Note 5), the Company maintains cash restricted for repaying interest on the respective loans as follows:
|  | As of September 30, 2013 |  | As of March 31, 2013
Reserve account related to the 2013 Term Loans (See Note 5) |  | $ | 5,751 |  |  | $ | 5,751 |
Reserve account related to the 2013 Prospect Loan Agreement (See Note 5) |  | 1,000 |  |  | 1,000 |
|  | $ | 6,751 |  |  | $ | 6,751 |
Estimated useful lives of Property and equipment | Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows:
Computer equipment and software | 3 - 5 years
Digital cinema projection systems | 10 years
Machinery and equipment | 3 - 10 years
Furniture and fixtures | 3 - 6 years
Fair Value Measurements of financial assets | The following tables summarize the levels of fair value measurements of the Company’s financial assets and liabilities:
|  | As of September 30, 2013
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Restricted cash |  | $ | 6,751 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,751 |
Contingent consideration |  | — |  |  | — |  |  | (1,846 | ) |  | (1,846 | )
|  | $ | 6,751 |  |  | $ | — |  |  | $ | (1,846 | ) |  | $ | 4,905 |
|  | As of March 31, 2013
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents |  | $ | 1,004 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,004 |
Restricted cash |  | 6,751 |  |  | — |  |  | — |  |  | 6,751 |
Interest rate derivatives |  | — |  |  | (544 | ) |  | — |  |  | (544 | )
Contingent consideration |  | — |  |  | — |  |  | (3,250 | ) |  | (3,250 | )
|  | $ | 7,755 |  |  | $ | (544 | ) |  | $ | (3,250 | ) |  | $ | 3,961 |
Schedule of Changes in Contingent Consideration Liabilities | The following change in contingent consideration liabilities during the six months ended September 30, 2013 were as follows:
Balance at March 31, 2013 |  | $ | 3,250 |
Change in fair value |  | (1,500 | )
Accretion of contingent liability |  | 96 |
Balance at September 30, 2013 |  | $ | 1,846 |
Information related to goodwill allocated to continuing operations | Information related to the goodwill allocated to the Company's reportable segments is detailed below:
|  | Phase I |  | Phase II |  | Services |  | Content & Entertainment |  | Corporate |  | Consolidated
As of March 31, 2013 |  | $ | — |  |  | $ | — |  |  | $ | 4,197 |  |  | $ | 8,542 |  |  | $ | — |  |  | $ | 12,739 |
As of September 30, 2013 |  | $ | — |  |  | $ | — |  |  | $ | 4,197 |  |  | $ | 8,542 |  |  | $ | — |  |  | $ | 12,739 |
Assumptions used in Black-Scholes option valuation model for estimating fair value of options | The Company estimated the fair value of stock options at the date of each grant using a Black-Scholes option valuation model with the following assumptions:
|  | For the Three Months Ended September 30, |  | For the Six Months Ended September 30,
Assumptions for Option Grants |  | 2013 |  | 2012 |  | 2013 |  | 2012
Range of risk-free interest rates |  | 1.4 - 1.6% |  |  | 0.6 - 0.7% |  |  | 0.7 - 1.6% |  | 0.9 - 2.1% |
Dividend yield |  | — |  |  | — |  |  | — |  | — |
Expected life (years) |  | 5 |  | 5 |  | 5 |  | 5
Range of expected volatilities |  | 72.7 - 73.1% |  |  | 75.2 - 75.6% |  |  | 72.7- 74.0% |  | 76.7 - 78.1% |
Employee stock-based compensation expense related to stock-based awards | Employee and director stock-based compensation expense related to the Company’s stock-based awards was as follows:
| For the Three Months Ended September 30, |  | For the Six Months Ended September 30,
| 2013 |  | 2012 |  | 2013 |  | 2012
Direct operating | $ | 16 |  |  | $ | 26 |  |  | $ | 34 |  |  | $ | 48 |
Selling, general and administrative | 505 |  |  | 466 |  |  | 1,202 |  |  | 1,198 |
Research and development | 19 |  |  | 36 |  |  | 41 |  |  | 73 |
| $ | 540 |  |  | $ | 528 |  |  | $ | 1,277 |  |  | $ | 1,319 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph b -Article 5 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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